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Cover page

Intro

Introduction
Queta Johnson is about to open a new business – Chocolate Nirvana. It will be a small chocolate specialties store. She plans on selling a limited number of hand-made molded candies, some of which are holiday specific and others that are of a more generic nature, as well as carrying a line of top-end candy bars. The majority of her sales will come from walk-in customers which will all be on a cash only basis. She anticipates working full-time at the store and needing the help of four part-time employees. She uses a perpetual FIFO (First-in, First-Out) method to account for her inventory. So, every time you record a sale of merchandise you must also figure out the cost of the goods (determined from recording it in the merchandise inventory sheets and applying FIFO).
The purpose of this practice set is to allow you the chance to see how each of the separate components we have worked on this semester fit together. As you complete the set, you may find it necessary to look back at what we learned in various chapters to help remember exactly what to do.
Instructions
1. Be sure to complete each form before moving on to the next form.
2. Read the form and decide which journal to put it in.
3. First - journalize the form into ONE of the journals. If it can go into one of the special journals, that is where you first put it. Only if you cannot (the transaction does not work for any of them) would you record it in the general journal. It would never go in two journals but it does have to go in one - you cannot record it anywhere else until you have journalized it.
CASH PAYMENTS JOURNAL - Use this if you are told to write a check. It must go in the Cash credit column, which means that it must also go to the check book and write out a check. Why did we pay it? On account would go in the Accounts Payable debit column, you would need the name of the business off to the left, and it would need to be recorded in the Accounts Payable subidiary. Some other reason? Would need to go in the Other column and you would need the name of an account from the chart of accounts. If we have an asset relating to what we are paying for we should use that. If not then we can use the expense or other appropriate account. If we pay for more than one thing with the single check we will need 2 lines to record it so that we can properly show the details.
CASH RECEIPTS JOURNAL - Use this one if you receive money FOR ANY REASON. The total amount of cash received must go in the Cash debit column and into the check book as a deposit. Why did you get the money? If you received it for a summary of cash sales, you must credit Sales - Store Sales and Sales Tax Payable. These numbers come from the bottom of the cash sales form. Then we must also take the things we sold into the merchandsie inventory sheets and record them as sales and determine what our COST in the goods sold would be. This is based on what we learned in chapter 7. If we received it for any other reason it needs to go in the Other column and we need the name of an account on the left.
PURCHASES JOURNAL - Used if you buy something on account (or receive a service that you will be paying for a bit later). Because everything in this journal will include a credit to Accounts Payable you will need the name of the business off to the left and have to take it to the Accounts Payable Subsidiary. Then, what did you buy? Merchandise? Then also put it in the Merchandise Inventory column and have to take it to the Inventory sheets and show the purchase. Something else? Then over on the right, put the amount in and then find an account from the chart of account that matches what you have gotten.
SALES JOURNAL - This business does not use a sales journal
GENERAL JOURNAL - Only if you cannot record it in one of these four journals would you record it in the general journal. Which means you should not record anything here that affects Cash. We study payroll in chapter 11. We will also use the general journal for our adjusting and closing entries.
Payroll – record the payroll as instructed - 1) into their employee earnings records, 2) then transfer the information into the payroll register and 3) after totaling the payroll register use that information to prepare a general journal entry and then from what we learned in chapter 11 also prepare the entry to record payroll tax expense. Specific data for each individual regarding their pay rate, status and number of allowances can be found on their earnings record sheets. Actual hours worked are given on the form. Federal Income Tax withholding amounts are found on the chart near the front of the booklet. First detemine their gross wages, then based on their claimed marital status go to the appropriate chart (married or single - in the front of the book) and find the intersection of their gross wages and how many allowances they are claiming. This is the dollar amount to take for their income tax withholding. Prepare the journal entries based off what we were taught in the textbook.
4. After journalizing all forms, total up every column from all four special journals and write down your total on the journal page. Compare your totals with the check figures. Do they match? If they do not, determine how far off they are. Try to determine where the error would come from.
5. Once you have your totals correct, begin posting into the general ledger. You must post all 5 journals (includes the general journal!!!) From the special journals, if you have the name of an account in the column heading, you will post ONLY the total from that column into the general ledger as either a debit (DR) or a credit (CR) based on what is shown in the column heading. For the "Other" columns you must post each amount individually. This comes from chapter 5. Notice in chapter 5 how your post reference numbers should look. From the general journal you need to post every account you have used.
6. As you post in the general ledger, keep running balances. Remember if you have a debit balance and a debit transaction they are added and stay a debit. If you have a credit balance and a credit transaction they are added and stay a credit. If you have one as a debit and the other as a credit they are subtracted and the balance goes to the higher side. Remember the rules for normal balances! Do not worry about an account's balance too much until you have posted all transactions - at that time all accounts should have their "normal" balance.
7 After posting all numbers from the journals into the general ledger, go to the Unadjusted Trial Balance in the back of the booklet. Write down each account, in order, from the general ledger that has a balance (you will have many accounts that do not yet have balances) and write in the balance amount - debit or credit - and add up your balances. Check your totals (this is a Trial BALANCE so your two balances should be the same) and compare to the check figures.
8. Use your chart of accounts page to begin work on your worksheet. List all accounts, in order, except you do not need to list Notes Payable - current, Income Summary, or Miscellaneous Expense.
9. For the accounts on your unadjusted trial balance, fill in their balances on to the worksheet in the Unadjusted Trial Balance columns. Leave all other accounts blank for these columns.
10. Journalize your adjusting entries in the general journal. You are given the information here, but you will need to also use the chart of accounts, sometimes you will need to look back at the form where we originally got the information we recorded for this charge, or you may need to look up on the forms, the ledger, or the trial balance a cost amount.
Prepare month end adjusting entries based on the following data for OCTOBER:
a) Record accrued interest on the long term note for 3 days - $13.56
b) Depreciation - calculate depreciation for JUST the month of October based on the following information:
Store Equipment - 5 year life, $3000 salvage value, use straight line depreciation
Office Equipment - 5 year life, $200 salvage value, use straight line depreciation
c) Record entry for expired insurance
d) Currently there are $45 worth of office supplies on hand
e) Currently there are $90 worth of store supplies on hand
f) Record entry for amount of advertising expired for the period just ended
g) Record wages earned, but unpaid, on Oct 31 of $110
11. Post your adjusting entries into the general ledger and get new running balances. Remember from chapter 3 what date we use and how we show this in the ledger.
12. Also, add your adjusting entries on to the worksheet in the Adjustments column. You will total your adjusting entries here.
13. You can now complete the worksheet. Your Adjusted Trial Balance columns should match your general ledger balances. What accounts need to get extended into the Income Statement columns (based on the Adjusted Trial Balance numbers) and which ones need to go into the Balance Sheet columns? Look at chapter 4 if you can't remember. Also, check chapter 4 to remind yourself how to show the totals on the bottom of the last page of the worksheet.
14. You are now ready to prepare your financial statements. Be sure to use chapter 6 examples as references.
15. Your Accounts Payable Vendor balance (Schedule of Accounts Payable) is from chapter 5. Simply list each vendor that you owe money to (Accounts Payable) and total them (example in chapter 5). You do not have to list any business that does not have a balance at the end of the month.
16. Income Statement - use a multiple step format. What all do you show, and in what columns (chapter 6) to get to gross profit? Where do you show Interest Expense? The company decided not to separate their operating expenses into selling and administrative but rather to list them all under Operating Expenses unless they are considered to be Other Expenses.
17. Statement of Owner's Equity - were we in business last month? Does that affect how we show anything on this statement?
18. Balance Sheet - be sure to use the classified format as described and illustrated in chapter 6. They show their Note Payable as a noncurrent liability rather than splitting it between current and noncurrent.
19. You are now ready to prepare your closing entries. These need to be journalized in the general journal. Use chapter 4 as a reference. If you prepared your worksheet correctly this is a great help in preparing the closing entries. Remember, though, we may have some accounts now that we did not have back in chapter 4 that still need to be closed because of the type of account they are. We close revenues and expenses - where are they found on the balance sheet? What amount should we have for the third entry? What are we trying to close in the 4th entry?
20. After journalizing the closing entries, you then need to post them into the general ledger. Do we put something in the item column?
21. After posting the closing entries, you will then prepare the post-closing trial balance. Which accounts should still be open?
Be sure to use your textbook as a reference as you work through this set. All of this information comes from work in our textbook.
Before turning in your completed practice set - Please be sure to put your name on it

chart of accts

Chocolate Nirvana
Chart of Accounts
ASSETS REVENUE
100 Cash 410 Sales - Store Sales
112 Office Supplies
113 Store Supplies
114 Prepaid Insurance COST OF GOODS SOLD
115 Prepaid Advertising 510 Cost of Merchandise Sold
120 Merchandise Inventory
150 Office Equipment
151 Accumulated Depreciation - Office Equip OPERATING EXPENSES
160 Store Equipment 610 Advertising Expense
161 Accumulated Depreciation - Store Equip 615 Depreciation Exp - Store Eq
620 Wages Expense
625 Store Supplies Expense
LIABILITIES 650 Rent Expense
210 Accounts Payable 660 Depreciation Exp - Office Eq
211 Interest Payable 665 Insurance Expense
213 Sales Tax Payable 670 Payroll Tax Expense
214 Employee's Federal Income Tax Payable 675 Office Supplies Expense
215 Social Security Tax Payable 680 Telephone Expense
216 Medicare Tax Payable 685 Utilities Expense
217 FUTA Tax Payable 690 Miscellaneous Expense
218 SUTA Tax Payable
219 Wages Payable
250 Notes Payable - Non Current OTHER EXPENSE
810 Interest Expense
OWNERS' EQUITY
310 Queta Johnson, Capital
311 Queta Johnson, Drawing
312 Income Summary

Fed Inc Tax Withholding Amts

Single Persons
If the wages are And the number of withholding allowances claimed is
But less
At least than 0 1 2 3 4 5
The amount of income tax to be withheld is
0 200 0 0 0 0 0 0
200 400 15 12 8 4 0 0
400 700 30 22 17 11 5 2
700 1200 38 31 24 17 13 9
1200 1800 46 39 33 25 19 11
1800 2500 58 47 42 31 24 16
2500 3200 65 58 51 40 30 22
These are the Federal Income Tax Withholding DOLLAR amounts to
use for our practice set
Married Persons
If the wages are And the number of withholding allowances claimed is
But less
At least than 0 1 2 3 4 5
The amount of income tax to be withheld is
0 400 0 0 0 0 0 0
400 700 9 5 2 0 0 0
700 1000 17 12 7 5 3 0
1000 1400 40 34 27 19 14 5
1400 1800 52 46 37 25 19 11
1800 2500 61 52 41 34 24 20
These are the Federal Income Tax Withholding DOLLAR amounts to
use for our practice set
The numbers used in these charts do not reflect actual IRS numbers

Check Figures

Check Figures – Chocolate Nirvana
Purchase Journal
                Accounts Payable                49,147.80
                Merchandise Inventory            48,117.80
                Other                    1,030.00
Cash Receipts Journal
                Other               30,000.00
                Merchandise Inventory / COGS            45,709.56
                Sales – Store Sales        93,539.25
                Sales Tax Payable             6,547.76
                Cash           130,087.01
Cash Payments Journal
                Other              37,008.73
                Accounts Payable             34,312.30
                Cash              71,321.03
After posting your journals here are some selected balances:
                Cash           58,765.98
                Merchandise Inventory         2,408.24
                Accounts Payable          14,835.50
After computing payroll total net pay for all employees 4,910.75
End of month activities:
                Work Sheet:
                                Trial Balance                  150,042.91
                                Adjustments        1,528.56
                                Adjusted Trial Balance       150,466.47
                                Income Statement (very bottom)      93,539.25
                                Balance Sheet (very bottom )      91,209.22
                Income Statement:
                                Sales        93,539.25
                                Gross Profit         47,829.69
                                Total Operating Expenses         13,370.40
                                Net Income       34,282.00
                Statement of Owner’s Equity:
                                Queta Johnson, October 31, 2016    36,782.00
                Balance Sheet:
                                Total Current Assets      62,509.22
                                Total Property, Plant, & Equipment       20,900.00
                                Total Assets     62,360.24
                                Total Current Liabilities        28,002.22
                                Total Non-Current Liabilities     18,625.00
                                Total Liabilities                46,627.22
                                Total Liabilities plus Owner’s Equity        83,409.22
                Post-Closing Trial Balance:
                                Debits and credit            83,709.22

purchase journal

PURCHASES JOURNAL Page 1
DATE 2016 ACCOUNT CREDITED POST REF Accounts Payable CR. Merchandise Inventory DR. ACCOUNT DR. POST REF Amount
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2 2
3 3
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5 5
6 6
7 7
8 8
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cash receipts journal

CASH RECEIPTS JOURNAL Page 1
DATE 2016 INV NO ACCOUNT CREDITED POST REF Other CR Merch Inventory CR. COGS DR. Sales - Store Sales CR. Sales Tax Pay CR. Cash DR
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2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9 - 0
10 10
11 11
12 12
13 13
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15 15

cash payments journal

CASH PAYMENTS JOURNAL Page 1
DATE 2016 Check No. ACCOUNT DEBITED POST REF Other Accounts DR. Accounts Payable DR. Cash CR.
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6 6
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General Journal

GENERAL JOURNAL Page 1
DATE 2016 DESCRIPTION POST REF. DEBIT CREDIT
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GENERAL JOURNAL Page 2
DATE 2016 DESCRIPTION POST. REF. Debit Credit
1 Adjusting Entries 1
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GENERAL JOURNAL Page 3
DATE 2016 DESCRIPTION POST. REF. Debit Credit
1 Closing Entries 1
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accts pay sub

ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name Antwerp Supreme
Address 337 Prumer Str., Antwerp, Belgium
Date 2016 Item Post. Ref. Debit Credit Balance
Name Chocolate Delights
Address 48956 257th Ave NE, Minneapolis, MN 55444
Date 2016 Item Post. Ref. Debit Credit Balance
Name Fireplace Supplies
Address 368 Express Place, Westminster, SD 58307
Date 2016 Item Post. Ref. Debit Credit Balance
Name TA & A Bell
Address 251 381st St, Westminster, SD 58307
Date 2016 Item Post. Ref. Debit Credit Balance
Name XY Energy
Address 461 2nd St, Westminster, SD 58307
Date 2016 Item Post. Ref. Debit Credit Balance

Merchandise Inventory sub

Item ID C - 101
Item Description Christmas
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Date Qty Cost Cost Qty Cost Cost Qty Cost Cost
Item ID D - 101
Item Description Dark Chocolate
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Date Qty Cost Cost Qty Cost Cost Qty Cost Cost
Item ID H - 101
Item Description Halloween
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Date Qty Cost Cost Qty Cost Cost Qty Cost Cost
Item ID M - 101
Item Description Milk chocolate
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Date Qty Cost Cost Qty Cost Cost Qty Cost Cost
Item ID T - 101
Item Description Thanksgiving
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Date Qty Cost Cost Qty Cost Cost Qty Cost Cost

Check book

No. 1001 1001
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1002 1002
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1003 1003
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1004 1004
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1005 1005
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1006 1006
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1007 1007
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1008 $ 1008
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1009 $ 1009
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1010 $ 1010
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1011 $ 1011
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1012 1012
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For
No. 1013 1013
Date
To 20 16
For
Dollars Cents
Balance Forward Pay to the
Deposit Order of $
Deposit
Sub Total Dollars
Current Check
Balance For

General Ledger

Account Cash Account No. 100
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Office Supplies Account No. 112
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Store Supplies Account No. 113
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Prepaid Insurance Account No. 114
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Prepaid Advertising Account No. 115
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Merchandise Inventory Account No. 120
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Office Equipment Account No. 150
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Accumulated Depreciation - Office Equipment Account No. 151
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Store Equipment Account No. 160
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Accumulated Depreciation - Store Equipment Account No. 161
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Accounts Payable Account No. 210
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Interest Payable Account No. 211
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Sales Tax Payable Account No. 213
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Employee's Federal Income Tax Payable Account No. 214
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Social Security Tax Payable Account No. 215
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Medicare Tax Payable Account No. 216
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account FUTA Tax Payable Account No. 217
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account SUTA Tax Payable Account No. 218
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Wages Payable Account No. 219
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Notes Payable - Non Current Account No. 250
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Queta Johnson, Capital Account No. 310
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Queta Johnson, Drawing Account No. 311
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Income Summary Account No. 312
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Sales - Store Sales Account No. 410
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Cost of Goods Sold Account No. 510
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Advertising Expense Account No. 610
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Depreciation Expense - Store Equipment Account No. 615
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Wages Expense Account No. 620
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Store Supplies Expense Account No. 625
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Rent Expense Account No. 650
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Depreciation Expense - Office Equipment Account No. 660
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Insurance Expense Account No. 665
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Payroll Tax Expense Account No. 670
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Office Supplies Expense Account No. 675
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Telephone Expense Account No. 680
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Utilities Expense Account No. 685
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Miscellaneous Expense Account No. 690
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit
Account Interest Expense Account No. 810
Date 2016 Item Post. Ref. Debit Credit Balance Debit Credit

Employee Earnings Records

EMPLOYEE EARNINGS RECORD
Employee Name: Sue A. Doll Social Security 501-08-1111
Address: 231 Crescent Street Status: Single
Westminster, SD 58307 Allowances: 3
Pay Rate per hour: $14.00 Hours: 140
Pay Period Ending Gross Earnings Cumulative Earnings Federal Income Tax Social Security Tax Medicare Tax Total Deductions Net Pay
1 1
EMPLOYEE EARNINGS RECORD
Employee Name: Angie Faust Social Security #: 501-08-2222
Address: 2216 Ave D East Status: Single
Westminster, SD 58307 Allowances: 0
Pay Rate per hour: $10.75 Hours: 127
Pay Period Ending Gross Earnings Cumulative Earnings Federal Income Tax Social Security Tax Medicare Tax Total Deductions Net Pay
1 1
EMPLOYEE EARNINGS RECORD
Employee Name: Marge Hoffman Social Security #: 501-08-3333
Address: 152 Columbia Blvd Status: Married
Westminster, SD 58307 Allowances: 2
Pay Rate per hour: $13.25 Hours: 90
Pay Period Ending Gross Earnings Cumulative Earnings Federal Income Tax Social Security Tax Medicare Tax Total Deductions Net Pay
1 1
EMPLOYEE EARNINGS RECORD
Employee Name: Thomas Kapp Social Security #: 501-08-4444
Address: 3248 Manitoba Ave Status: Married
Westminster, SD 58307 Allowances: 2
Pay Rate per hour: $11.50 Hours: 80
Pay Period Ending Gross Earnings Cumulative Earnings Federal Income Tax Social Security Tax Medicare Tax Total Deductions Net Pay
1 1

Payroll Register

Chocolate Nirvana
Payroll Register
Gross Earnings Deductions Account Debited
Employee Name Federal Income Tax Social Security Tax Medicare Tax Total Deductions Net Pay Check No. Wages Expense (Gross Wages)
1 Sue Doll 1
2 Angie Faust 2
3 Marge Hoffman 3
4 Thomas Kapp 4
5 5
6 TOTALS 6
7 7
8 8
9 9

Unadjusted Trial Balance

Chocolate Nirvana
Unadjusted Trial Balance
DEBIT CREDIT

Work Sheet

Chocolate Nirvana
Work Sheet
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
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2 2
3 3
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5 5
6 6
7 7
8 8
9 9
10 10
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22 22
Chocolate Nirvana
Work Sheet
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 Net Income 16
17 17
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20 20
21 21

Sch of Acc Pay

Chocolate Nirvana
Schedule of Accounts Payable (Accounts Payable Creditor Balances)
ACCOUNT

Income Statement

Chocolate Nirvana
Income Statement

Stmt of Owners' Equity

Chocolate Nirvana
Statement of Owners' Equity

Balance Sheet

Chocolate Nirvana
Balance Sheet
Assets

Post Closing TB

Chocolate Nirvana
Post Closing Trial Balance
ACCOUNT DEBIT CREDIT